Bar Harbor Bankshares $BHB Shares Purchased by Trust Co. of Vermont

Trust Co. of Vermont increased its position in shares of Bar Harbor Bankshares (NYSE:BHB) by 67.7% during the second quarter, Holdings Channel reports. The fund owned 73,332 shares of the company’s stock after acquiring an additional 29,606 shares during the quarter. Trust Co. of Vermont’s holdings in Bar Harbor Bankshares were worth $2,197,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of BHB. State of New Jersey Common Pension Fund D acquired a new stake in Bar Harbor Bankshares during the first quarter worth approximately $2,260,000. Nuveen LLC purchased a new position in Bar Harbor Bankshares during the first quarter worth approximately $1,464,000. Moors & Cabot Inc. raised its stake in Bar Harbor Bankshares by 321.8% during the first quarter. Moors & Cabot Inc. now owns 29,315 shares of the company’s stock worth $865,000 after purchasing an additional 22,365 shares during the period. Brant Point Investment Management LLC purchased a new position in Bar Harbor Bankshares during the first quarter worth approximately $583,000. Finally, Jane Street Group LLC purchased a new position in Bar Harbor Bankshares during the first quarter worth approximately $522,000. Institutional investors and hedge funds own 54.49% of the company’s stock.

Bar Harbor Bankshares Stock Performance

Shares of BHB stock opened at $30.50 on Thursday. The company has a fifty day simple moving average of $31.18. Bar Harbor Bankshares has a 52 week low of $26.43 and a 52 week high of $38.47. The stock has a market cap of $508.83 million, a P/E ratio of 11.82 and a beta of 0.71.

Bar Harbor Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Thursday, August 14th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Thursday, August 14th. Bar Harbor Bankshares’s dividend payout ratio (DPR) is currently 49.61%.

Wall Street Analyst Weigh In

Separately, Piper Sandler raised shares of Bar Harbor Bankshares from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $34.00 to $35.00 in a research note on Tuesday, August 5th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $35.00.

Bar Harbor Bankshares Profile

Bar Harbor Bankshares operates as the holding company for Bar Harbor Bank & Trust that provides commercial, lending, retail, and wealth management banking services. It accepts various deposit products, including interest-bearing and non-interest-bearing demand accounts, savings accounts, time deposits, and money market deposit accounts, as well as certificates of deposit.